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24362 Barbados Drive Dana Point, CA 92629

3 Beds 3 Baths 1,905 sqft Built 1974

$1,021,900

List Price

$3,600

$3.4K - $3.9K

Rent Est.

PROPERTY INFO

January 31, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1974
  • Price/Sqft : $536.43
  • 2 Days on Market
  • MLS # : LG21020080
  • Updated Date : 01/30/2021 at 16:41
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,905 sqft
  • Baths : 2 full , 1 half
Listing Agent

Active Realty Inc

Listing Agent's Description

Beautiful 3 bedroom, 2 bathroom, 2 story home in the coastal Dana D'Oro community of Dana Point! Enjoy vaulted ceilings, an elegant kitchen, an inviting fireplace, and a tropical landscaped back yard. The kitchen overlooks the family room and offers granite countertops, stainless steel appliances, and outdoor views. The spacious bedrooms feature large closets, an updated stylish tile shower in the primary bathroom, and decorative vanities. Additional property highlights include the covered outdoor patio, 2 car garage, and no HOA. Within walking distance to area beaches, Dana Point Harbor, and area parks!

SEE MORE

MARKET HIGHLIGHTS

  • Southern California's economy is worth $1.58 trillion in Gross Metro Product and projected to grow to $1.67 trillion (USMayors.org, 2018)
  • Southern California has 58.7% labor force participation rate; within this area, Los Angeles metro has 62.3% labor force participation rate (USMayors.org, 2018)
  • Headquarters to several Fortune 500 companies: Amgen, Farmers Insurance, Walt Disney, Avery Dennison, Activision Blizzard, CBRE Group, Edison International, Molina Healthcare, First American Financial, Pacific Life, Qualcomm and Sempra Energy (Fortune, 2018)
  • Los Angeles has been awarded the 2028 Olympics under a funding commitment of $88 billion to upgrade the transportation infrastructure connecting disparate pockets of the metro area. This is expected to produce additional employment in the coming years. (BCG, 2018)
  • As part of Southern California area, Orange County market inherits all the benefits from the area.
  • Southern California area contributes to 55.3% of California state economy i.e. Gross State Product (USMayors.org, 2018)
  • The area has major technology nodes of excellence: Los Angeles (Media and entertainment); Pasadena (High-tech engineering, data analytics); Riverside (Agtech, transportation/ distribution); San Diego (Healthcare, biotech, wireless communications); Irvine (Medtech, cyber security); El Segundo (Aerospace and defense IT, space transport) [BCG, 2018]
  • Southern California produces more technology PhDs per year than any other region in the country and many of the higher educated students stay within Souther California contributing to readily available workforce skills making the area more attractive than Silicon Valley (BCG, 2018)

PRICE & RENT TRENDS

Neighborhood: Dana Point

NeighborhoodNIR Market*CityMarket2010Year20002019300k400k500k600k700k800k900k1000k1100kPrice in $272k1107k

* NIR Market: Aggregated price or rent trend of all neighborhoods with same NIR

Neighborhood: Dana Point

NeighborhoodNIR Market*CityMarket2010Year2000 Q22019 Q2200022002400260028003000320034003600380040004200Rent in $19814202

* NIR Market: Aggregated price or rent trend of all neighborhoods with same NIR

SCHOOLS

NAME EDUCATIONAL LEVEL SCHOOL TYPE # OF STUDENTS # OF TEACHERS GREATSCHOOLS RATING
John S. Malcom Elementary School Primary Regular 709 21 9
Marco Forster Middle School Middle Regular 1,360 56 6
Dana Hills High School High Regular 2,716 97 9

John S. Malcom Elementary School

  • Education Level: Primary
  • # of students: 709
  • # of teachers: 21
9
GreatSchools Rating

Marco Forster Middle School

  • Education Level: Middle
  • # of students: 1,360
  • # of teachers: 56
6
GreatSchools Rating

Dana Hills High School

  • Education Level: High
  • # of students: 2,716
  • # of teachers: 97
9
GreatSchools Rating
 

$919,710$1,124,090$1,021,900

PURCHASE PRICE

$3,240$3,960$3,600

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $3,600
EXPENSES Loan Payment -$3,549
Property Tax -$1,039
Property Insurance -$73
Property Management Fees -$176
CASH FLOW
-$1,238

This is the estimated cash flow generated during a typical maintenance-free month. It is recommended that investors set aside 14% of earned rent to cover both maintenance and periods of vacancy.

$1,021,900

PROJECTED PRICE

$3,600

PROJECTED RENT

0.35%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 4.08%
Appreciation Year (1-5) 6.6%
Maintenance Year (1-5) 8.00%
Vacancy 5.81%
Length of Stay Years 2

PROJECTED ACCUMULATED WEALTH

30 YEAR PROJECTION

  • Cash Flow
  • Appreciation
  • Principal
11530$0.0$500k$1.0M$1.5M$2.0M$2.5M$3.0M

PROJECTED ANNUAL CASH FLOW

11530-$20k-$15k-$10k-$5.0k$0.0$5.0k$10k$15k

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

  • Appreciation
  • Principal
  • Loan Balance
11530$0.0$500k$1.0M$1.5M$2.0M$2.5M$3.0M

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$276,554

INVESTMENT

$276,554

Down Payment
$255,475
Rehab Estimate
$5,750
Closing Costs
$15,329

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 70% down payment or higher enables the proceeds from the asset to cover all costs.

$3,549

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $255,475
Loan Amount $766,425
See What Happens When You Reinvest Cash Flow

0.33

YEARS SAVED

$865

INTEREST SAVED

CASH FLOW REINVESTMENT

The time & interest saved by applying each month's positive cash flow towards loan principal pay down.

  • $3,600

    LIST RENT
  • $1.89

    LIST RENT PER SQFT
  • $3,862

    COMP ESTIMATED VALUE
  • $2.03

    COMP AVG. RENT PER SQFT
Comps Range
$3,600
1$3,6002$3,8003$3,9004$3,9005$4,150
$4,150
RENT COMPS ANALYSIS
  • 24362 Barbados Drive Dana Point, CA 1
    • 3 beds 3 baths ∙ 1,905 Sqft ∙ Built 1974 3 beds 3 baths ∙ 1,905 Sqft ∙ Built 1974
    • Rent
    • Rent Per SQFT
    •  
    • $3,600
    • $1.89
    •  
  • 24331 Armada Drive Dana Point, CA 2
    • 3 beds 3 baths ∙ 1,905 Sqft ∙ Built 1974 3 beds 3 baths ∙ 1,905 Sqft ∙ Built 1974
    LEASED 07/24/20
    • Rent
    • Rent Per SQFT
    •  
    • $3,800
    • $1.99
    •  
  • 24332 Taxco Drive Dana Point, CA 3
    • 4 beds 3 baths ∙ 1,932 Sqft ∙ Built 1976 4 beds 3 baths ∙ 1,932 Sqft ∙ Built 1976
    LEASED 06/11/20
    • Rent
    • Rent Per SQFT
    •  
    • $3,900
    • $2.02
    •  
  • 10 Saint Michael Dana Point, CA 4
    • 3 beds 3 baths ∙ 1,847 Sqft ∙ Built 1988 3 beds 3 baths ∙ 1,847 Sqft ∙ Built 1988
    LEASED 07/16/20
    • Rent
    • Rent Per SQFT
    •  
    • $3,900
    • $2.11
    •  
  • 24462 Philemon Drive Dana Point, CA 5
    • 3 beds 3 baths ∙ 2,081 Sqft ∙ Built 1985 3 beds 3 baths ∙ 2,081 Sqft ∙ Built 1985
    LEASED 11/02/20
    • Rent
    • Rent Per SQFT
    •  
    • $4,150
    • $1.99
    •  
PROPERTY LISTING DETAILS
Justin Tye
Active Realty Inc
Darryl John Willis
1.866.250.5610
HomeUnion.com
Lic. BRE# 01526904
California Regional Multiple Listing Service ( CRMLS)
MLS #: LG21020080
Last Updated: 01/30/2021
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